Family Firms, Plural Forms of Governance, and the Evolving Role of Trust

By Lloyd Steier. 2001

310 citations recorded by the source corpus.

Subfields: Accounting, Organizational Behavior and Human Resource Management

View Paper: https://www.semanticscholar.org/paper/58f6ff37088fed0ce2c90ef1d66af2c0b75d67f4

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Citations in the corpus

Markets, Hierarchies, and Families: Toward a Transaction Cost Theory of the Family Firm (2010, unknown): “Due to their personalized authority, owner-managers in family firms are empowered to enter into verbal, informal, handshake-deals (Miller & Le Breton-Miller, 2005; Steier, 2001a) and commit their firm to transactions with unspecified obligations (Lovett, Simmons, & Kali, 1999; Park & Luo, 2001).”
Strategic agility and international joint ventures: The willingness-ability paradox of family firms (2020, background): “As Steier (2001) has highlighted, trust as governance mechanism within family firms is significantly different from that of non-family firms, given that business transactions are not purely economic, but include additional dimensions.”
Family Firm Reputation and Humanization: Consumers and the Trust Advantage of Family Firms Under Different Conditions of Brand Familiarity (2018, background): “…& Brunninge, 2013; Blombäck & Ramírez-Pasillas, 2012; Carrigan & Buckley, 2008; Haugh & McKee, 2003; Micelotta & Raynard, 2011; Schwartz, 2005; Steier, 2001) or a quantitative nature (Ahlers, Hack, Madison, Wright, & Kellermanns, 2017; Allen, George, & Davis, 2018; Azizi, Salmani Bidgoli, &…”
Organizational Virtue Orientation and Family Firms (2011, background): “In family firms, alignment can both reduce opportunistic behavior by agents (Schulze, Lubatkin, Dino, & Buchholtz, 2001) and reduce the need for formal and contractual controls while increasing the importance of certain social controls such as trust (Steier, 2001).”
Enterprising Families Domain: Family-Influenced Ownership Groups in Pursuit of Transgenerational Wealth (2002, background): “The literature addresses the advantages to shareholders of being a private or closely held company (Mishra & McConaughy, 1999; McConaughy, 2000); the agency relationship of ownership and management in public companies and long-run performance (Jensen & Meckling, 1976; Pollak, 1985); the agency effic”
Governance and Trust in Family Firms: An Introduction (2010, background): “Combs et al.’s findings suggest that trust must be delicately balanced in a family firm; too much trust can lead to problems associated with blind faith and opportunism, but too little trust can lead to costs associated with elaborate governance mechanisms (Steier, 2001a).”
The Adolescence of Family Firm Research (2012, unknown): “For example, although it is typically seen as illegitimate for professional managers to do so, owner– managers can enter into “handshake deals” with their business partners (Steier, 2001) and bind their firms to transactions with indeterminate obligations (Park & Luo, 2001).”
Family Business Succession: What’s Motivation Got to Do With It? (2019, background): “In addition to being considered a source of competitive advantage in family firms (Steier, 2001), it has been suggested that trust or confidence in the abilities of the successor will affect incumbents’ willingness to prepare for their retirement and gradually hand their business over to the success”
All you need is trust? A critical review of the trust and entrepreneurship literature (2012, background): “, 2010) and as a strategic advantage for family firms (Fink, 2010; Steier, 2001).”
Innovation in family and non-family businesses: a resource perspective (2010, background): “Keeping a high social capital is important to gain access to other forms of capital (e.g., intellectual, human, financial capital) that are needed for a firm to survive (Sirmon and Hitt, 2003; Steier, 2001).”